BUYandHOLD.com Launches Website for Online Investing Using SunGard Brokerage Systems' Phase3 System.BEDFORD, Mass.--(BUSINESS WIRE)--Dec. 6, 1999-- SunGard Brokerage Systems, a leading provider of real-time, straight through securities processing systems and outsourcing services, today announced that online brokerage firm BUYandHOLD.com Securities Corporation, a wholly-owned subsidiary of BUYandHOLD.com, Inc., has launched its website for long-term investing using the Phase3 System for back office support. The website offers online investors the opportunity to purchase fractional shares, schedule recurring investments and automatically reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. dividends using BUYandHOLD.com's simple and unique Shop for Stocks(SM) approach. "We're extremely pleased that BUYandHOLD.com has chosen Phase3 to support their online investment business," said David Taylor David Taylor or Dave Taylor can be one of several persons: Sports people
Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. arena as these firms become formidable players in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. for the individual investor." "We chose Phase3 because of its ability to process all of our investment products on a single platform, which is a critical advantage as our business grows and as we provide our customers with more opportunities to manage their personal finances," said Michael E. O'Dea, chief technology officer of BUYandHOLD.com, Inc. "In the competitive world of online trading, managing and safeguarding our customers' account information is a requirement--not an amenity. Phase3 delivers this capability, as well as the high level of service and attention to detail it takes to launch a new business like BUYandHOLD.com," O'Dea added. Phase3 provides BUYandHOLD.com with a durable and proven system to manage and maintain its books, records and all aspects of transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . By leveraging the capabilities of Phase3, BUYandHOLD.com staff can focus on developing new services and products through its website, speeding time to market. BUYandHOLD.com is using Phase3 via SunGard's outsourcing services. About BUYandHOLD.com BUYandHOLD.com, Inc. (www.buyandhold.com) is a unique financial services company focused on the needs of long-term investors. Through its subsidiary BUYandHOLD.com Securities Corporation, it provides online brokerage services to investors who practice the "Buy and Hold" investment philosophy of purchasing and retaining securities to optimize returns on investments over time. Customers can quickly build a diversified portfolio from more than 1,200 companies grouped for easy selection through a shopping cart interface. They can invest a minimum of $20; reinvest dividends for free; implement dollar cost averaging strategies through its E-ZVest(SM) service; have access to expert third-party content, research and an extensive library of educational information about investing; average purchase price tracking; and twice-a-day executions. BUYandHOLD.com Securities Corporation (Member NASD/SIPC) and its parent company, BUYandHOLD.com, Inc., are headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of at 110 and 120 Wall Street respectively. About SunGard Brokerage Systems SunGard Brokerage Systems develops and supports the Phase3 System, a real-time, straight-through securities processing system used by brokerage firms to manage all facets of processing securities transactions--including customer management, order routing and execution, clearance, reporting and accounting. Phase3 is used in a service bureau, facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. or in-house license environment by full service retail firms, institutional broker/dealers, discount brokerage firms discount brokerage firm A brokerage firm that discounts commissions for individuals to trade securities. Most discount brokerage firms offer limited advice but reduce their fees by 50% or more compared with full-service brokerage firms. , bank Section 20s, correspondent clearing firms, and ECNs. Additional information is available on the Web at www.sungardp3.com. SunGard Brokerage Systems is an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of SunGard Data Systems Inc., the only large specialized provider of proprietary investment support systems, and the pioneer and a leading provider of comprehensive computer disaster recovery services. SunGard Data Systems Inc. common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. . Phase3 and SunGard are registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trademarks belong to their respective owners. |
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